Weaker Oil Prices Weigh On Aramco’s Q1 Profit ...Middle East

Lower oil prices over the first quarter of the year weakened Aramco’s net profit, with the Saudi giant booking a net result of $26 billion, down from $27.3 billion a year earlier. Despite the weaker figures, the company decided to distribute a higher dividend for the quarter. While lower than a year ago, the net result was higher than what analysts expected, which was net earnings of $25.36 billion, per a Reuters poll. Dividend for the first quarter was set at $21.1 billion, up by 4.2% on the year and payable during the second quarter. The…

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